Pangborn merges with European shot blast industry leaders

5/6/2009

FAIRBURN, Georgia, USA (May 6, 2009) - Capital Equipment Resources LLC, the parent of Pangborn Corp, a North American shot blast wheel manufacturer, has signed a final agreement with Wheelabrator/Disa Group to acquire Pangborn Europe, V+S and Berger.

The merged companies will operate six facilities - two in the U.S., two in Germany, one in Italy, and one in the U.K. These industry leaders will continue to design, manufacture and distribute trusted brands of shot blast machines, dust collectors, and aftermarket products, and offer rebuilds and related products and services in the surface preparation industry.

"This merger expands our product and service offerings for our customers around the globe," Ken Dickson, President of Pangborn Corporation said. "The addition of these leading brands brings tremendous synergies and resources in technology, products and talent."

"Each acquired company is a perfect fit for Pangborn," Dickson said. "They expand our global presence and position us for further growth in the surface preparation industry,"

Pangborn Corporation has designed and manufactured shot blast machines since its inception in 1904. Pangborn's worldwide headquarters is in Fairburn, Ga. It also operates facilities in Maryland and the U.K. Capital Equipment Resources, an affiliate of Atlas Holdings LLC, acquired Pangborn in June of 2006. Atlas Holdings operates businesses in industrial sectors that include: the paper, packaging, wood products and steel industries. Atlas operates more than 30 facilities in North America and Europe. Its companies employ about 3,000 people. For information, visit www.atlasholdingsllc.com